SINGAPORE - Dubai-based airline Emirates is open to cooperation with rival Etihad Airways on areas that could include procurement, Emirates President Tim Clark said, adding a full merger between the pair was unlikely but up to the owners.

"I think there is value to be had working more closely with them," Clark told Reuters in a phone interview on Wednesday, although he said there might be concerns from regulators in some foreign markets.

(Reporting by Jamie Freed; Editing by Himani Sarkar) ((Jamie.Freed@thomsonreuters.com; +65 6318 4789;))